If you don’t get a warm, fuzzy feeling when you think of Dogecoin, you probably have a heart of stone. The truth, however, is that the creators of the cutest cryptocurrency in the world want it to be more than just a Bitcoin-like token with the Shiba Inu mascot on it. Dogecoin developers want it to be more than just a meme.
One of the most common Dogecoin memes
With that in mind, Hard Fork spoke to developers Ross Nicoll and Michi Lumin to find out what Dogecoin needs to go beyond its meme status and to plan to incorporate it into a legitimate cryptocurrency. But first, here’s some background information.
The doge days are over
Dogecoin has been in development since 2013. The original developers Billy Markus and Jackson Palmer wanted to create a cryptocurrency that wasn’t as stuffy or boring as Bitcoin. They thought a more entertaining digital currency would appeal to a much wider audience, but little did they know that the “Doge” mascot would help gain a cult following.
The cryptocurrency capitalized on its reputation in 2014 when it raised $ 25,000for the Jamaican bobsleigh team to take her to the Sochi Winter Olympics. It’s probably the stuff worthy of a movie business.
Photo credit: The Guardian, Photo: secretlondon123 on flickr (CC-BY-SA). Image manipulation by Shiona Tregaskis Dogecoin Bob?
Earlier this year, Tesla CEO Elon Musk helped bring Dogecoin back to the public after engaging in the cryptocurrency’s April Fool’s joke.
On April 1, Dogecoin took the opportunity to live up to its more affable character and released a Twitter poll for followers to vote on who they would like to see as the new Dogecoin CEO. In the tweet, Dogecoin said he listened to concerns and decided he needed a guide, someone who could carry it into the future.
Like it or not, Elon Musk was accidentally crowned the new CEO of Dodgecoin with 54 percent of the vote. Seemingly happy with his “win,” Musk said it “could be his favorite cryptocurrency” and that “Dogecoin rulz”.
Dogecoin rulz, at least according to Elon Musk
He even changed his Twitter bio to showcase “CEO of Dogecoin” for about a day. By April 2, the tech billionaire had changed his biography to “retired CEO of Dogecoin”.
Know how to make a joke
It was all a bit of fun, and while Dogecoin developers love to do it, they also want people to recognize the project as serious. But that’s not easy.
“It is certainly challenging, and I understand that when we present we need to be both approachable and at the same time ensure that we address potentially very complex topics with the necessary depth,” Dogecoin core developer Ross Nicoll told Hard Fork.
Lumin repeated Nicoll’s thoughts. “While people think Dogecoin is a ‘joke’, we actually take it very seriously,” Lumin said. Memes and jokes aside, “it maintains a sizable economy and we know its users depend on us to keep this stable,” they added.
However, Dogecoin has developed strategies to address this. Communication is based on the simple principle of using dedicated channels for each subgroup of users. This helps Dogecoin balance some level of seriousness, but it also provides a way to have fun and have fun.
“Personally, I use different accounts to split up our interaction. Github is usually very serious business, as is the @dogecoin_devs Twitter account, while @dogecoin is usually the friendlier and easier content, “added Nicoll.
Dogecoin Reddit meme
In fact, what Dogecoin developers communicate is also very important. Unlike some initial coin offerings that talk about the future value of the project, Dogecoin is actively going the other way.
“We avoid discussing the price as this could lead to allegations of speculation or price pumping,” said Lumin. “Dogecoin is a currency and not a speculative instrument. One of its main strengths is relative stability. “
Community, stability, identity
That said, calling these communication methods “strategies” could be terrific. In reality, these channels have arisen more organically because of the community itself.
“In many ways, this reflects the efforts of the many volunteers working on the project,” said Nicoll. It allows him to focus on the code and day-to-day technical operations while others work with the community to build engagement and generally be the more fun side.
Given the seriousness with which Nicoll and Luin approach Dogecoin, one might think they would be against the jokes that surround them, but they remain largely ambivalent to the meme. It’s undoubtedly an important part of the project and helped bring the coin to what it is today.
“Whether that’s a good thing depends on who you ask. I came to Dogecoin because I wanted to help the mass market with a cryptocurrency instead of getting rich, and from that perspective we did it very well, ”added Nicoll.
1 doge against many doges
When it comes to things like April Fool’s Day, how can we “not participate?” In Dogecoin’s playful nature? ”Asked Lumin rhetorically. While some cryptocurrencies and blockchains like Ethereum are all about technology, it’s certainly refreshing to see a coin sit back and have fun every now and then.
Lumin was actually surprised that Musk played so freely. The joke was more than just trying to grab the attention of one of the most watched tech entrepreneurs in the world, however.
“We were just poking fun at the idea of a decentralized coin with a ‘CEO’,” Lumin said. “Nowadays every coin has an ICO, it is structured like a company. with executives (usually with snazzy glamor shots on their websites and invariably a “CEO of the Medal”), they added.
With that in mind, the April Fool’s joke served to subtly reinforce how Dogecoin differs from other cryptocurrencies – especially those created as part of the infamous 2017/2018 bull run. Like Dogecoin itself, it was more than just a joke.
“Dogecoin is not a company and the core team of developers has no executives,” Lumin said. “We have a core team that works to keep things going (and we don’t get paid. Neither of us are ‘dogecoin rich’).”
Lumin firmly believes that Dogecoin is “not a speculative instrument”. Developers of the project take the stability and usability of the coin very seriously. In the same way that the April Fool’s joke contained a greater truth, Lumin points out that “Stability is what 1 doge = 1 doge actually means.”
A doge always corresponds to a doge
While this could be another meme that leads many to overlook its hidden truth, according to Lumin, it kept the coin alive and made usable. Even if some people hate the saying.
After talking to Nicoll and Lumin, it is clear that Dogecoin is a serious project. But the developers can’t deny the power of the meme.
“The memes’ reputation is an integral part of what sets us apart from other coins, and while it presents its own unique challenges, we would not be here without it,” concluded Nicoll.